ClearBridge Investments Large Cap Growth Strategy’s Q3 2024 Investor Letter

ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” third quarter 2024 investor letter. In the third quarter, increased volatility was caused by weak employment reports, leading to a brief correction in parts of the U.S. equity market. However, after a 50 basis point interest rate cut by the Federal Reserve, stocks rallied, with the S&P 500 Index rising by 5.89% and the small-cap Russell 2000 Index jumping by 9.27%. Leadership in equities broadened beyond the Magnificent Seven companies. In the quarter, profit-taking among large-cap companies and early signs of a possible market rotation caused growth stocks to underperform value stocks. The benchmark Russell 1000 Growth Index increased by 3.19%, falling behind the Russell 1000 Value Index, which saw a growth of 9.43%. The strategy outperformed in the quarter driven by broader participation among stable and cyclical growth positions in health care, communication services, and industrials. In addition, please check the fund’s top five holdings to know its best picks in 2024.

A copy of ClearBridge Investments Large Cap Growth Strategy’s Q3 2024 Investor Letter can be downloaded here.